I listen to Macro Musings every week. If you’re interested in money, I recommend you do, too. In mid-August, David Beckworth released his interview with Aaron Klein, director of the Center on Markets and Regulations at the Brookings Institution where, among other things, he focuses on financial regulations and real time payments.
Listening to Aaron will upset you. Aaron points out that banks routinely target and exploit half of Americans - those who live paycheck to paycheck. Real-time payments won’t affect the rich nearly as much as they will benefit the poor. It’s time to modernize our payment system. It’s time to update money.